Gold became a popular investment option in September. Surging by over 5% in September, the price of gold has also had a positive start in October. Meanwhile, major banks updated their predictions regarding gold. Gold prices remained near peak levels due to the impact of the US entering an interest rate reduction cycle and increasing tension in the Middle East. Breaking record after record in September, the price of gold per ounce began October with an optimistic outlook. Today, gold per ounce traded around 2,653 dollars with a 0.7% increase. Last week, gold reached its historic peak at 2,685 dollars. Major banks have made new predictions about gold. Bank of America forecasted that the price of an ounce of gold will rise to 3,000 dollars next year. BofA analysts had predicted in a report in June that the price of gold would reach 3,000 dollars per ounce within 12-18 months. Goldman Sachs also reiterated its long-term buy recommendation for gold. Previously pointing to the 2,700 dollar level, the bank updated its expectation for the price of gold per ounce to 2,900 dollars.